Source | www.hifives.in |
Millennials already comprise a significant percentage of the global workforce and this number is expected to grow to around 75% by the year 2025. In general, professionals belonging to this generation tend to be more confident, digitally savvy, clear-headed, expressive, and adaptable as compared to their predecessors. That is why organizations often find the task of keeping millennials engaged and motivated somewhat challenging. Hence, when it comes to recognizing millennials at work, organizations need to put in right policies and systems that cater to their needs which differ significantly from those of earlier generations.
Understanding the Recognition Needs of Millennials
The one thing that makes millennials unique is that they were born and brought up during a period when the world was experiencing major advances in technology and the digital era was just ushering in. This has made them highly tech-savvy and innovative.
Most millennials are also known to be extremely competitive and have a strong desire to excel in everything they do. They also tend to be motivated by things that employees belonging to previous generations would not consider important. These may include aspects such as a better work-life balance, a more flexible work environment, and use of digital technology, etc.
Tips for Effective Recognition Strategy for Millennials
For developing an effective employee recognition program for millennials, organizations need to consider the various factors that may impact their engagement, efficiency, and happiness. Here are a few effective tips that can help organizations in this context:
1. Clear Criteria for Recognition
Millennials feel highly motivated by clarity of purpose and meaning of their jobs. They need to feel connected with the mission and values of the organization.
Recognition polices with well-defined criteria that helps them link the rewards to their contribution towards achieving the business objectives prove most effective for them.
2. On-the-Spot Recognition
Born and brought up in a culture that values instant gratification, millennials are most motivated by instant recognition from their supervisors and managers. Hence on-the-spot recognition or spot awards should be part of the rewards and recognition programs targeted towards them.